SkyWest, Inc. (SKYW) Releases Earnings Results, Beats Estimates By $0.03 EPS
SkyWest, Inc. (NASDAQ:SKYW) issued its quarterly earnings results on Wednesday. The transportation company reported $1.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.03, Briefing.com reports. The firm had revenue of $831.93 million for the quarter, compared to the consensus estimate of $817.43 million. SkyWest had a negative net margin of 4.59% and a positive return on equity of 11.10%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.90 EPS.
Shares of SkyWest (NASDAQ:SKYW) traded up 6.60% during mid-day trading on Thursday, reaching $46.05. 759,499 shares of the company’s stock were exchanged. SkyWest has a one year low of $28.80 and a one year high of $48.45. The stock has a 50-day moving average of $43.18 and a 200 day moving average of $37.61. The firm’s market capitalization is $2.39 billion.
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 5th. Shareholders of record on Friday, September 29th were paid a dividend of $0.08 per share. The ex-dividend date was Thursday, September 28th. This represents a $0.32 dividend on an annualized basis and a yield of 0.69%. SkyWest’s dividend payout ratio (DPR) is presently -11.31%.
SKYW has been the topic of a number of recent analyst reports. BidaskClub downgraded shares of SkyWest from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Cowen and Company restated an “outperform” rating and issued a $44.00 price target (up previously from $40.00) on shares of SkyWest in a research report on Monday, August 7th. ValuEngine upgraded shares of SkyWest from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 29th. Finally, Zacks Investment Research downgraded shares of SkyWest from a “buy” rating to a “hold” rating in a research report on Tuesday, September 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and three have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $45.50.
SkyWest, Inc, through its subsidiaries, SkyWest Airlines, Inc (SkyWest Airlines) and ExpressJet Airlines, Inc (ExpressJet), operates regional airline operations in the United States. The Company’s segments include SkyWest Airlines, ExpressJet and SkyWest Leasing. The SkyWest Airlines segment provides regional jet service to airports primarily located in the Midwestern and Western United States, as well as Mexico and Canada.
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